Chevron buys 15.38M Hess shares (4.99% stake) at discount to merger exchange ratio

CHEVRON CORP

Purchased 15.38M Hess shares Jan-Mar 2025, ~4.99% of outstanding Hess common stock as of Jan 31, 2025.
Shares acquired in open market at prices below the implied exchange ratio from the Oct 22, 2023 Merger Agreement.
Purchases signal Chevron's continued confidence that pending Hess acquisition will close.
Added to Chevron's existing first-quarter 2025 stock repurchase program for its own shares.

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